At a glance
BCHP charges 0.58% a year, above the 0.49% average of the 8 funds most like it (the 7th cheapest of 9). It has $218.2M in assets, the 5th largest of that group. Over the past year it returned −2.3% with distributions reinvested (S&P 500: +11.5%), 8th of those 9 funds; over three years it returned +16.6% a year. Its ten largest positions make up 72.2% of the fund, out of 22 in all.
The short version
Principal Focused Blue Chip ETF (BCHP) is an actively managed fund. Principal Global Investors picks a small group of 20 to 30 large "blue chip" companies, mostly US growth stocks such as Amazon, NVIDIA and Alphabet. As of June 30, 2026, it held 22 stocks, with 72% in the top 10. It charges 0.58% a year. That is above the 0.49% average of similar focused growth funds and far above the 0.04% of the Schwab U.S. Large-Cap Growth ETF (SCHG).
Price history
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BCHP -2.3% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| BCHP official prospectus, to Dec 31, 2025 | — | +10.23% | — | — | — | +18.39% |
| Russell 1000 Index (reflects no deduction for fees, expenses, or taxes) index, same period | — | +17.37% | — | — | — | +20.11% |
| Russell 1000 Growth Index (reflects no deduction for fees, expenses, or taxes) index, same period | — | +18.56% | — | — | — | +25.12% |
| BCHP price data to Oct 27, 2026 | +0.1% | -2.3% | +16.6% | — | — | +13.1% |
- Over the year to Oct 27, 2026, BCHP returned -2.3%, 8th of 9 among similar funds.
- Its worst full calendar year was 2025 (+10.2%); its best was 2024 (+20.6%).
- The deepest fall in its price history was 34.3% (Dec 3, 2025 to Mar 27, 2026), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +0.1% | — |
| 2025 | +10.2% | +10.23% |
| 2024 | +20.6% | +20.63% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2024 | $0.3500 |
What's inside
As of Jun 30, 2026, the fund held 22 securities; the ten largest made up 72.2% of assets.
| Holding | Weight | |
|---|---|---|
| Amazon.com Inc | 12.17% | |
| NVIDIA Corp | 9.61% | |
| Alphabet Inc | 8.86% | |
| Microsoft Corp | 8.85% | |
| Brookfield Corp | 8.63% | |
| Mastercard Inc | 4.96% | |
| Visa Inc | 4.93% | |
| TransDigm Group Inc | 4.84% | |
| Cadence Design Systems Inc | 4.73% | |
| Broadcom Inc | 4.62% | |
| Meta Platforms Inc | 4.52% | |
| KKR & Co Inc | 3.27% | |
| Danaher Corp | 3.22% | |
| Netflix Inc | 2.90% | |
| HEICO Corp | 2.83% |
By country
United States 91.38%Canada 8.63%By asset type
Stocks 100%By sector
Sectors of the companies held, for the 89.3% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $6.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +13.08%, +3.47%, -5.66%.
How it works
BCHP does not track an index. Its goal is long-term growth of capital. The fund puts at least 80% of its net assets into large companies that its adviser, Principal Global Investors (PGI), considers "blue chips." "Large" means similar in size to companies in the S&P 500. As of September 30, 2026, that was about $5.7 billion to $5.5 trillion. PGI looks for established, financially sound firms that lead their sector or rank among its top three. It leans toward companies with growth potential and above-average expected earnings.
PGI uses a bottom-up, fundamental process. That means it studies each company one by one, looking at its competitive position, management and culture, free cash flow and risk. The prospectus sets no fixed weighting rule or rebalancing calendar. The managers decide how much of each stock to hold. Portfolio turnover was 54.2%, so the fund replaces roughly half its portfolio in a typical year.
The fund is "non-diversified," so it can put a large share of its money into a single company. As of June 30, 2026, its largest positions were Amazon (12.2%), NVIDIA (9.6%), Alphabet (8.9%), Microsoft (8.8%) and Brookfield (8.6%). Brookfield is a Canadian company, and the fund can own foreign stocks. The fund held no derivatives and almost no cash.
What it really costs
- BCHP charges 0.58% a year, versus an average of 0.49% for the similar funds below (7th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $59 in the first year and $726 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| BCHP | $59 | $186 | $324 | $726 |
In a retirement portfolio
With about two dozen growth stocks, no dividends and a 34.3% drop within its short history, BCHP fits best as a small add-on to a broader core holding.
BCHP launched on July 13, 2023, so it has no record in the 2008, 2020 or 2022 downturns. Its weakest full calendar year was 2025, when it still gained 10.2%. It then fell 34.3% between December 3, 2025 and March 27, 2026, and it had not regained that peak as of October 27, 2026. A retiree who had to take cash from it during that stretch would have locked in losses. It paid no dividends in the year through October 27, 2026, so it provides no income. In the SEC's standard example, its 0.58% expense ratio costs about $59 in the first year and $726 over 10 years on $10,000. It also has a 41% holdings overlap with the Schwab U.S. Large-Cap Growth ETF, so it may add less variety than its short list suggests. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a hand-picked list of 20 to 30 large growth companies instead of an index fund with hundreds of stocks.
- Investors who already own a broad core fund and want a small satellite position with heavy weights in Amazon, NVIDIA, Alphabet and Microsoft.
- Long-horizon investors who won't need the money and can sit through drops like the 34.3% fall from December 2025 to March 2026.
Look elsewhere if
- Retirees looking for income: BCHP paid no dividends in the year through October 27, 2026.
- Cost-focused investors: the 0.58% expense ratio is above the 0.49% peer average and far above SCHG's 0.04%.
- Investors who want a long track record: since its 2023 launch, it trailed the Russell 1000 Growth Index through 2025 and ranked last among peers on three-year returns.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| BCHP this fund | — | 0.58% | $218.2M | -2.3% | +16.6% |
| IWFG NYLI Winslow Focused Large Cap Growth ETF | 51% | 0.65% | $60.5M | -2.6% | +23.6% |
| LRGG Macquarie Focused Large Growth ETF | 45% | 0.44% | $264.0M | +1.3% | — |
| AGRW Allspring LT Large Growth ETF | 44% | 0.35% | $112.8M | +4.7% | — |
| SCHG Schwab U.S. Large-Cap Growth ETF | 41% | 0.04% | $63.03B | +2.2% | +23.0% |
| TCHP T. Rowe Price Blue Chip Growth ETF | 40% | 0.57% | $2.16B | -1.2% | +23.5% |
| PJFG PGIM Jennison Focused Growth ETF | 38% | 0.75% | $140.3M | +3.6% | +25.2% |
| PGRO Putnam Focused Large Cap Growth ETF | 36% | 0.56% | $212.1M | +3.1% | +24.6% |
Questions investors ask
Is BCHP good for retirement?
BCHP fits more naturally as a small, higher-risk slice of a retirement portfolio than as its core. As of June 30, 2026, it held just 22 stocks. It pays no dividends. It fell 34.3% between December 3, 2025 and March 27, 2026, and it had not regained its peak by October 27, 2026. It launched in 2023, so it has no record in the 2008, 2020 or 2022 downturns. Investors who rely on their portfolio for income may find the deep swings and lack of payouts hard to live with.
Does BCHP pay dividends?
No. BCHP paid no dividends in the 12 months through October 27, 2026, so its trailing yield was 0%. That matches its goal of long-term growth of capital. The prospectus also warns that growth stocks typically lack the dividend yield that can soften price declines in downturns. Investors who need regular cash would have to get it from other holdings or by cashing out shares.
What is BCHP's expense ratio?
BCHP's expense ratio is 0.58% a year, according to its prospectus filed October 27, 2026. All of it is the management fee, and there is no fee waiver. In the SEC's standard example ($10,000 invested, 5% annual return), costs come to about $59 after one year, $186 after three, $324 after five and $726 after ten. That is above the 0.49% average for similar funds, ranking 7th of 9 on cost. The Schwab U.S. Large-Cap Growth ETF (SCHG) charges 0.04%.
BCHP vs IWFG: what's the difference?
Both are actively managed, concentrated large-cap growth ETFs. Their holdings overlap by about 51%, the most of any similar fund. IWFG, the NYLI Winslow Focused Large Cap Growth ETF, costs 0.65% a year, compared with 0.58% for BCHP. As of October 27, 2026, their one-year returns were close: -2.6% for IWFG and -2.3% for BCHP. IWFG's three-year annualized return was much higher, at 23.6% against 16.6%. BCHP is larger: about $218 million in net assets as of June 30, 2026, against about $61 million for IWFG as of July 31, 2026.
How has BCHP performed compared with the Russell 1000?
BCHP has trailed both of the indexes in its prospectus. As of December 31, 2025, it returned 10.23% over one year and 18.39% a year since its July 2023 launch. The Russell 1000 Index returned 17.37% and 20.11%, and the Russell 1000 Growth Index returned 18.56% and 25.12%. Index returns don't include fees. Based on price, BCHP's three-year annualized return was 16.6% as of October 27, 2026. That was the lowest of six similar funds with three years of history.